a) What is the economic concept that we learned in class that is associated with the minimum wage?

b) Introducing a minimum wage into the economy will artificially force what economic concept that is discussed in chapter 2 to come about? Explain it and use the labor market as an example in your explanation.

c) Use your example to provide two economic arguments for and against the implementation of the minimum wage rate in Toronto, Canada.

d) If there is an increase of government regulations among firms in the labor market, will the supply curve demand curve shift?

e) Would it be an increase or decrease?

f) what effect could this shift have on the minimum wage situation?